cryptocurrency marketwitnessed important developments in 2024. Spot Bitcoin $98,131.4 The launch of ETFs, the Bitcoin block reward halving in April, and Donald Trump’s support for cryptocurrencies in the USA have brought renewed attention to the sector. While all these developments added new energy to the market, they especially increased the interest of institutional and individual investors.
Bitcoin ETFs and Trump’s Support Stimulated the Market
Spot Bitcoin ETFThe launch of ‘s has provided direct access to cryptocurrencies for investors. This development was considered a major turning point for the market. The Bitcoin block reward halving, which took place in April, brought new challenges to the mining industry. US President Trump’s support for cryptocurrencies has made cryptocurrencies more visible in the mainstream.
S&P 500 While it gained 25 percent in value this year, BitcoinThe price of has increased by 120 percent. Remarkable performances were seen among cryptocurrency-focused companies. robinhood shares 203 percent, block While recording a 24 percent increase, coinbase Its shares gained 69 percent in value.
On the other hand, MicroStrategy shares became the company that gained the most value with a 402 percent increase. Currently MicroStrategy 440 thousand units BTC holding the position of being the largest institutional investor in the market. Core Scientific increased by 307 percent, Terawulf It gained 142 percent in value.
MicroStrategy, in particular, attracted attention with its Bitcoin accumulation strategy. CEO Michael SaylorUnder his leadership, the company holds Bitcoins worth over $40 billion. Similarly, Core Scientific got ahead of the competition with artificial intelligence-supported mining agreements.
Losers Despite the Rise in Cryptocurrencies
On the other hand, some companies have had a difficult year. MARA Holdings shares 16 percent, Bit Digital fell by 17 percent. Hive Digital 32 percent, Argo Blockchain It was among the losers with an 80 percent loss of value. The steepest decline was with a loss of 92 percent in value. Gryphon Digital MiningSeen in.
Gryphon Digital Mining experienced a 33 percent year-on-year decline in revenues and posted a net loss of $5.95 million. Argo Blockchain, on the other hand, sought new capital to continue its operations.
While 2024 created great opportunities for the winners, it also brought operational challenges for the losers. However, in general cryptocurrency The market continued to grow with expanding investor interest and innovations.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
